when my ex husband passed away i was living in a trailor he had puchased I am no where on the loan for this trailor i have continued to make the payments regardless for three years when i talked to the finance company they said there should not be a problem with anything as long as I am the executer over his estate well i am not his father was we are now looking for a new home to buy and I am wondering since i am no where on this loan can the finance company do anything to me if I just let them take it back
2006-12-24 03:09:38 · 7 answers · asked by SAHM and proud of it 3 in Politics & Government ➔ Law & Ethics
Was an estate actually opened after you ex's death, and was your father in law the executor of that estate?
If so, the finance company will come after him after they repo the trailer.
If you were the EX-wife at the time of death, and your name is not on the loan or the trust deed, then yes, you can walk away from the property.
I would consult an attorney in your state though, just to be on the safe side.
2006-12-24 03:19:46 · answer #1 · answered by Anonymous · 1⤊ 2⤋
You didn't say what state you are in, nor did you give any indication if you ex-husband died testate (with a will) or intestate (without a will). If your husband died testate, then the terms of his will dictate how the property is divided. If he died intestate, then the laws of your state governing intestacy will determine this.
THE FOLLOWING IS GENERAL advice, and is not meant to specifically advise you on your situation.
Generally, when a person dies, their debts become the responsibility of their estate. This means, for instance, that to distribute any property of the estate, the executor first has to satisfy all of the creditors. Then, any inheritance taxes must be resolved. The remainder is then distributed to the heirs (For a discuss of that, see above) If a person dies and has more debts than the property of the estate, the estate is insolvent. The heirs get nothing, and the creditors may or may not get paid.
For specific information, contact an attorney licensed in your state. For a referral to an attorney, contact your local or state bar association. DO NOT go to a prepaid legal service. They generally can only help you if you are a subscriber BEFORE you need their help, and the person advertising same her is of questionable ethics.
2006-12-24 14:27:19 · answer #2 · answered by Phil R 5 · 1⤊ 0⤋
Try the sites below. The last one is a VERY affordable way to obtain an Attorney/Law Firm in your State. Hope this helps.
2006-12-24 13:17:46 · answer #3 · answered by Anonymous · 0⤊ 1⤋
No one here can provide such advice. For you to take such advice would be foolish in the extreme. Find a local attorney or local legal service who is licensed to practice law in your locality.
No attorney of any note will provide such advice here. If you follow such advice and it goes wrong, you can sue them.
2006-12-24 12:14:02 · answer #4 · answered by Randy 7 · 0⤊ 1⤋
Laws differ from State to state, so talk to a lawyer. It is always better to play it safe.
2006-12-24 11:14:57 · answer #5 · answered by 007 4 · 3⤊ 0⤋
A lawyer is the best person for legal advice.
2006-12-24 11:11:23 · answer #6 · answered by Concerned Citizen 3 · 2⤊ 1⤋
they will probably send the mafia over to break your knee caps
2006-12-24 11:18:02 · answer #7 · answered by shark_or_gup 2 · 0⤊ 4⤋